New Delhi, March 27 -- The Indian IPO market, which has witnessed unprecedented demand from retail investors in recent years, has slowed down in the current calendar year as weak sentiment toward risky assets, driven by a prolonged downturn in the secondary market, has forced companies to delay their listing plans.

Adding to the market jitters, stricter SEBI regulations on disclosures and pricing have also made companies reconsider their IPO timelines.

While companies that have raised funds in the last two months have seen lukewarm demand for their issues, especially from retail investors-whose portion usually sees strong demand for fresh issues-subscriptions have come in lower compared to last year, reflecting a cautious sentiment.

So...